The Wall Street Journal reported that Twitter’s revenue in December 2022 was down 40% compared to December 2021 due to the refusal of advertisers to cooperate with the social network.
And the newspaper wrote: “Twitter announced a decline in revenue and profit last December after many advertisers refused to cooperate with the social network after it was bought by Elon Musk … According to an update to investors, the company announced a decrease of approximately 40% in each of revenue and net income for the month compared to December 2021.
At the end of October 2022, American businessman Elon Musk finally completed the $44 billion purchase of Twitter. Musk promised to edit the social network’s editorial policy, which was widely criticized due to heavy censorship, as well as the creation of the Content Editorial Council, and also promised not to make any important decisions about editorial policy and to restore blocked accounts before the council began its work. Musk also warned that his network would “do a lot of stupid things” in the near future. The company intends to “keep what works and change what doesn’t.”
Source: News